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I Want To Refinance My ARM To A Fixed Rate Mortgage, What Are The Steps To Take?

Question by Claudio F | Posted in Renting & Real Estate

I shortage to refinance my ARM to a fixed rate mortgage, what are the steps to take?
I have $67,934 mortgage+ $22,000 home equity credit=$89,934.
I want to pay it off in 15-22 years.
My credit score is 707.
The abode is worth

Answer: You're not current to get a good loan for over 100% of value - pay down whichever one you can pay down fastest. If you're only staying 5 more years, it may be more conservative to not refi.

But, if you still want to, go to lendingtree.com

 
 

Refinance Mortgage Fixed Rate 5year Most Paying Interest?

Question by shinypearl36 | Posted in Renting & Real Estate

what's ARM?

Answer: ARM is adjustable-rate mortgage. If you're looking at a 5yr mortgage, it is indubitably an ARM and not a fixed.

Check out the link for more on ARMs - hope it helps!

 
 

5year Fixed Rate Refinanced Mortgage, Must It Pay An Interest?

Question by shinypearl36 | Posted in Renting & Real Estate

my mortgage period of time is 25 years. for the first 5 years I've payed what I belive is mostly interest.
now, when I refinance do I also have to pay most of the interest within the first 5 years?

Answer: you will by the skin of one's teeth need to refinace your current principal balance. Get a payoff, what the widely known payoff is will be what you refinance.

There is not such thing as back interest, unless you took one of those interest

 
 

Would It Be A Good Time To Refinance A 6.5% Fixed Rate Mortgage Due To Recent Rate Cuts?

Question by Keith G | Posted in Renting & Real Estate

I've only been paying the mortgage for 4 months. should I be tabled longer or take advantage of the lower rates?

 
 

I Have A 5 Year ARM Mortgage And I Need Advice On Refinancing To A Fixed Rate Mortgage?

Question by ssk402000 | Posted in Renting & Real Estate

When I bought my dwelling it was worth 291,000 where I made a down payment of 20,000 and now I am having an appraisal getting done and with the cover market as it is, i'm sure its worth much less. I originally had a 5 year ARM mortgage at a 5% rate but

Answer: Call your mortgage servicer. The LIBOR indication is DOWN. Your rate may not adjust UP! Or not very much. Find out what the current MARGIN and INDEX are on your current mortgage.

As large as the LIBOR stays low (which won't be for more

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Should I Refinance my Fixed Rate Mortgage?

Mortgage Matters with Mike Morisset - Incident #30 In this episode, I suggest anyone in a fixed-rate mortgage at 4.79 or higher should make allowance for ...
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